I was looking over some stocks today, and noted that my old holding, AWK, has gone on quite a run after I parted ways with it late last year.

Looking at its recent price, it seems almost like AWK is towering high above the land in a continuous path that drags your eyes higher – it rather reminds me of the way my 9th floor office used to be (though isn’t anymore) – but that’s a story for another time.

Now certainly I don’t resent AWK for mocking my office with its well-groundedness. After all, since I bought it in the low $20’s and road it into the low $30’s, it did me quite a service on its own.

And I don’t much resent it for continuing to run higher without me. I chose to disembark it, after all.

But its price is too high. It’s a water utility after all. Not a tech company. The dividends it offers are valuable, and useful if you’re trying to find something other than the bond markets. But they’ll never be that valuable.

Looking at the timing of the ascent, I can’t help but wonder, “do people believe this company is going to benefit greatly from the drought?” And certainly it will, from higher sales volumes.

But those volumes are going to be stifled soon enough. And will three months of hot summer weather really justify an extra 15% on the price of the stock?

I can’t believe that. Why, that’s a taller tale than the one I intend to tell you…

But that’s for later. Selling AWK is for now.